Dr. Adesina secured 58 per cent of the votes in the final round at a meeting in Abidjan, Ivory Coast, while Kordje Bedoumra secured 32 per cent votes, and Cristina Duarte, 10 per cent.

His election as the bank’s eight president signals the exit of Dr Donald Kaberuka, who completes his second and last term at the helm of Africa’s most notable multilateral development finance institution on August 31.

Dr Adesina assumes office at AfDB’s head office in Abidjan, for his first term of five years, on September 1.